I am currently looking to hire a tax accountant to help with tax strategies and filing annual taxes. I reside in California, but own rental properties in Alabama. I have W2 employment and run the rental properties on the side. I am wondering if I should be looking for a tax accountant in my home market (California) or in the market I own my real estate investments (Alabama) given they are familiar with local tax laws. Any advice?
As long as the tax professional is familiar with real estate tax law and multi-state taxation, their location doesn't matter too much and it really only comes down to personal preference.
@Bastian Kneuse You likely either want someone in California or if you go out of state, make sure they are familiar with CA rules/laws. California will tax ALL your income as a resident versus Alabama will only tax the rental income and require a simpler non-resident income tax return. California tends to be way more complicated than most other states (no surprise there). If you want names for CPAs in So. Cal, let me know.
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Thank you for the responses.
@Katie Lepore I would be interested in referrals for CPAs in North California/San Francisco Bay area.
Ditto . All referrals for CPA in Bay Area california are